Why build EnsoFi?
The DeFi space is expanding rapidly, with the emergence of numerous Layer 1 and Layer 2, offering novel opportunities and solutions. However, this growth has brought challenges that prevent users from maximizing their yield opportunities and participating seamlessly in the DeFi ecosystem.
The Challenges:
Fragmented Liquidity:
Liquidity is spread thin across multiple blockchains, especially newer or less active ones. This leaves users on these chains with limited access to the best yield opportunities, typically found on popular ecosystems like Solana.
Complex Navigation:
Users need to navigate multiple wallets, protocols, and interfaces to interact with different chains. This not only increases the risk of errors but also leads to delays and inefficiencies.
Risk in Bridging Assets:
Bridging assets between chains relies on complex smart contracts, making them attractive targets for hacks and exploits. This raises concerns about safety and trust among users.
The Opportunity:
With over $70 billion in assets across 10+ blockchains, the DeFi space holds immense untapped potential. Concentrating liquidity and simplifying cross-chain activities can unlock significant yield opportunities and innovation. EnsoFi is designed to address these challenges while capitalizing on this opportunity.
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